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Department Grant and Contract Award Management

The Principal Investigator (PI) has the responsibility to monitor the budget, ensure that proper documentation procedures are followed and that only authorized expenditures are charged to a sponsored project. Upon receipt of a notice of an award from the Office of Grants and Contracts, it is the PI’s responsibility to work with their department administrator to manage the funds responsibly.  

Information through the following links is intended to assist department administrators in accounting for costs to their department on a monthly basis. The FIT guidelines refer to meeting standards for all departmental costs. A grant account is a source of funding awarded competitively that can alleviate state funds (e.g., on personnel during the AY). Use the Lead Admin Grants Management Checklist for managing grants (and keeping a hard copy). Copies of monthly departmental log sheet(s) reconciliations are due in an email into the College Business Services Coordinator by the 25th of every month (the 23rd in the case of December). 


 

Additional helpful information:

  • ECU's Financial Services Systems Coordination offers training and support for Banner.
  • The Office of Grants and Contracts conducts periodic training to assist PIs and department administrators with the management of your grants, i.e., effort reporting, cost accounting, re-distributions, etc.  See the training website for dates and times.
  • When a sponsor awards funds to the University in support of specific programs and projects, it requires the University to manage those funds prudently to ensure that any costs incurred directly benefit the project accounts being charged.  Anyone approving or processing the expenditure of federal funds must have a clear understanding of Cost Accounting Standards (CAS) and apply consistent application of these fundamental cost principles (see below).

The Office of Grants and Contracts

  • Accepts an award from an external sponsor
  • Notifies the PI/PD of an award
  • Sets up an account for spending
  • Assists with Effort Reporting
  • Submits invoices
  • Issues Vendor Agreements
  • Prepares reports on cost share
  • Informs PI of timeline to close out
  • Prepares close out of a grant

Sponsor Award Management Policies/Procedures

OMB Circulars and Other Accounting Principles/Policies

Cost Principles:

  • 2 CFR 220 (A-21) Educational Institutions
  • 2 CFR 215 (A-110) IHEs, Hospitals, & Other Non-profits

Audits:

Non-Financial Post-Award Functions (OSP)

  • Award Acceptance
  • Financial Guarantee
  • Subawards
  • No Cost Extension
  • Budget Revision
  • Award Transfer